Truong Hai Group (Thaco) recently released this data in a document submitted to the Hanoi Stock Exchange. This substantial profit increased their undistributed post-tax profit to 16,762 billion VND.
Profitability indicators also saw a slight improvement. Specifically, the return on equity reached 5.42%, approximately 0.36 percentage points higher than the same period last year.
By the end of last year, Thaco's equity capital was approximately 55,830 billion VND, an increase of 3,400 billion VND compared to the beginning of the year. Liabilities increased by about 22,000 billion VND, reaching nearly 140,000 billion VND. The majority of this comes from bank loans (over 91,000 billion VND), with the remainder consisting of bonds and other payables.
While Thaco did not disclose its total assets, it reported a debt-to-asset ratio of 0.71. This implies the company's assets are around 197,000 billion VND.
Since 2021, Thaco has not been a public company, having fewer than 100 shareholders. Therefore, they are not obligated to publicly disclose audited financial statements with complete figures for revenue, expenses, and profit. The latest document Thaco sent to the Stock Exchange is a basic financial disclosure, fulfilling their obligation as a bond issuer. The document includes key indicators related to capital, solvency, outstanding bond debt, profit, and profitability.
As of the end of June of this year, Thaco's outstanding bond debt was 13,680 billion VND. Interest rates on these bonds range from 6% to 9.1% per year.
Starting as a company specializing in importing used cars and supplying auto repair parts, Thaco is now a multi-sector corporation with six core business areas: automobiles, mechanical engineering and supporting industries, agriculture, investment and construction, commerce and services, and logistics.
Automobiles remain the group's primary revenue source. Thaco aims for this sector to generate 80,847 billion VND and achieve over 35 million USD in exports this year. The mechanical engineering and industrial sector is projected to contribute over 14,400 billion VND in revenue, while agriculture is expected to bring in 8,340 billion VND from fruit orchards (banana, durian, mango, and pomelo) and livestock. Commerce, services, and logistics are predicted to contribute less revenue, at approximately 6,810 billion VND and 5,400 billion VND, respectively.
At the end of August, Thaco underwent a period of high-level personnel changes when Pham Van Tai voluntarily resigned after seven years as General Director. Tran Ba Duong currently holds this position. Thaco simultaneously appointed three Deputy General Directors, a Chief Financial Officer, and a Chief Human Resources Officer. The group's leadership stated that these appointments aim to consolidate the management apparatus, ensuring continuity and ongoing innovation in governance.
Phuong Dong
